The Negotiation Game
When the billionaire owner of the Wizards and Capitals, Ted Leonsis, announced he was planning to move the Washington teams to Virginia, D.C. Mayor Muriel E. Bowser was taken aback. There was no signed contract, just a handshake with Virginia Gov. Glenn Youngkin. This sparked Bowser’s determination to bring Leonsis back to the negotiating table and keep D.C. in the game.
A Winning Strategy
After months of behind-the-scenes discussions and sweetening D.C.’s offer, Bowser and Leonsis ultimately struck a $515 million deal. This comprehensive agreement allows Leonsis to expand Monumental Sports & Entertainment’s presence at Capital One Arena and boosts security around the arena with additional police presence. The deal also solidifies the teams’ presence in D.C. until at least 2050.
Lessons Learned
Bowser’s initial failure to secure a deal with Leonsis served as a turning point. She regrouped with a more focused approach, working closely with the city council to deliver a compelling offer. By rekindling negotiations with Leonsis, Bowser was able to capitalize on Virginia’s missteps and showcase D.C.’s unified and business-friendly approach.
Building Momentum
Through a series of strategic moves from mid-February to mid-March, Bowser managed to catch Leonsis’s attention. Initiatives such as the Safe Commercial Corridor police hub and the Downtown Action Plan highlighted D.C.’s commitment to revitalizing the city core. The passage of the Secure D.C. public safety omnibus bill further demonstrated D.C.’s dedication to creating a safe and thriving environment.
A Unified Front
As Virginia faced setbacks in securing the Potomac Yard arena plan, D.C.’s attractiveness grew. The contrast between D.C.’s unified approach and Virginia’s political spats played a key role in Leonsis’s decision to return to the negotiating table. Despite Virginia’s reputation for being business-friendly, D.C. emerged as the easier and more appealing option for securing a massive business deal.
Read More of this Story at www.washingtonpost.com – 2024-03-30 15:55:45
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